Gold rates may fall to $2,600 per ounce in 6-10 months, says Pace 360’s Amit Goel

Gold prices have rallied sharply over the past year, recently touching highs near $3,220 per ounce. However, according to Amit Goel, Chief Global Strategist at Pace 360, the yellow metal could be due for a medium-term correction—offering investors a strong entry point for the long haul.

Goel expects gold to retrace in the next six to ten months, potentially falling to around $2,600 per ounce.

In a deeper correction, prices could test the $2,400–$2,500 per ounce range. Despite this, he maintains a bullish stance over the longer term, citing strong structural fundamentals.

After years of moving sideways, gold broke out in 2023–24, supported by persistent inflation concerns, geopolitical tensions, and increased central bank buying.

Goel believes that even if the current rally moderates, gold remains well-positioned for significant gains in the years ahead.

He projects a long-term target of $4,000–$4,500 per ounce by 2028–29, describing gold as a "low-hanging fruit" for patient investors.

While more aggressive scenarios could push prices toward $5,000–$6,000 per ounce, Goel cautions against entering the market during overly speculative phases.

In addition to gold, Goel also sees value in US Treasuries, especially long-term bonds.

Despite market concerns over potential selling by China, he argues that the US bond market remains structurally sound and resilient.

The Treasury market, in his view, continues to offer strong risk-adjusted returns for long-term investors.

Also Read | 10 reasons why gold is a good buy in 2025

For the full interview, watch the accompanying video

Catch all the latest updates from the stock market here